Home>Alabama Living>Capital Credits Returning To You
Share

Capital Credits Returning To You

“These margins helped keep us financially stable and strong over the years. Now, it’s time to give a portion of them back. That’s what being in a cooperative is all about — sharing the success with our members through the retirement of these credits,” — Lisa LeNoir, chief financial officer

As a member of Wiregrass Electric Cooperative (WEC), you’re also an owner. This means you own a share of the co-op, based on your individual portion of purchases of the co-op’s services.

Capital credits represent your share of our co-op’s margins, which is revenue left over after all operational costs are covered. In essence, these credits signify your ownership and investment in the co-op. We recently retired some of these capital credits, returning them to you. Here are the details:

  • 50% of the 2004 capital credits were retired.
  • Approximately $677,865.06 was returned to members.
  • For active members, bill credits will appear on primary accounts from August 25 to September 25.
  • For inactive members, checks were mailed to your last known address around September 8. Checks are written in the name of the member on record.

What This Means

The retirement of these credits is an example of Members’ Economic Participation, 1 of our guiding 7 Cooperative Principles. This action will benefit roughly 6,226 active accounts and result in about 3,966 checks for inactive members.

Questions?

For any inquiries or clarification, please don’t hesitate to contact WEC.